Bank helps clients reduce emissions
Rabobank says climate change creates both risks and opportunities for the bank and its clients and that the food and agriculture sector needs to recognise the potential for both.
The second to last Global Dairy Trade (GDT) event for the 2017-18 production season saw the auction’s price index down 1.1%.
Whole milk powder price index was down 1.5% to US$3231/metric tonne.
Rabobank’s dairy analyst Emma Higgins says the drop in WMP price coincides with Fonterra revising upwards their production forecast for the full season to -2% (from -3% previously) to 1.5billion kgMS.
“Weather has improved for most parts around the country and in fact total New Zealand production for the season to date (March 2018) is only trailing marginally behind last season at just -0.3%.
“More generally, New Zealand product pricing tends to wane over the coming weeks as we move into our seasonal production hiatus and sentiment trails off as the focus shifts to the Northern Hemisphere.”
However, there still remains demand for fresh SMP and a late spring in the Northern Hemisphere delaying production has resulted in tighter fresh inventories.
“As such, we saw positive price support for SMP this morning, with a lift of 3.6% bringing the average SMP price just shy of the US$2000 mark.
“New Zealand product is still priced at a premium over European sourced SMP. And while demand for fresh is strong, old EU SMP stocks are seeing some clearing movement.”
Results
AMF index down 1.9%, average price US$6,032/MT
Butter index unchanged, average price US$5,647/MT
BMP index up 0.5%, average price US$1,990/MT
Ched index up 3.1%, average price US$4,024/MT
LAC index up 0.6%, average price US$616/MT
RenCas index down 10.5%, average price US$5,177/MT
SMP index up 3.6%, average price US$1,999/MT
WMP index down 1.5%, average price US$3,231/MT
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
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